[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]
DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
CONSERVATION EASEMENTS
4CCR 725-4

A-6 CONDITIONAL CERTIFICATION 

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Department of Regulatory Agencies and the Division of Real Estate (the “Division”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules related to conservation easements.

Section 1.	Authority
Section 2.	Scope and Purpose
Section 3.	Applicability
Section 4.	A-6 Conditional Certification

Section 1.	Authority
 
The statutory basis for the adoption of these rules regarding conservation easement holders is in Part 7 of Title 12, Article 61, C.R.S. The specific rulemaking provisions contained therein are section 12-61-720(11), C.R.S.

Section 2.	Scope and Purpose

The purpose of this rule is to formally establish a conditional certification for conservation easement holders.
Section 3.	Applicability
The provisions of this section shall be applicable to qualified organizations that meet the requirements of section 170(h) of the federal “Internal Revenue Code of 1986”, as amended, and section 38-30.5-104(2), C.R.S.to hold conservation easements for which a tax credit is claimed pursuant to section 39-22-522, C.R.S. (“Conservation Easement Holders”). 

Section 4.	A-6 Conditional Certification

The Director of the Division of Real Estate in consultation with the Conservation Easement Oversight Commission may issue conditional certification to any Conservation Easement Holder that does not clearly demonstrate, to the satisfaction of the Director, compliance with rule A-1 Qualifications for Certification to Hold Conservation Easements.

The terms and length of conditional certification will be determined by the Director and may include but are not limited to:
1.	A requirement that the conditionally certified Conservation Easement Holder co-hold conservation easements for which a state tax credit is claimed with a fully certified Conservation Easement Holder. 
a.	For the purpose of Rule A-6 “co-hold” shall mean more than one nonprofit entity or government entity is named as a grantee of the conservation easement. 
2.	Submission of all requested project and governance documentation in a manner prescribed by the Director.
3.	Approval of project documentation by the Director prior to the conservation easement holder accepting a new conservation easement.
4.	Any other restriction or term deemed necessary by the Director to ensure ongoing compliance with all applicable rules and statutes.

Conservation Easement Holders granted conditional certification are subject to all fees, statutes and rules promulgated for certified Conservation Easement Holders, including, but not limited to rule A-1 Qualifications for Certification to Hold Conservation Easements, and all other rules regarding expiration and renewal of state certification.